Lockhart refuses to confirm September, so December is now on the cards. AUDUSD 75 cents??

Jim Devonport

Compass Global Markets

AUDUSD: Started the week drifting lower as we headed towards the only event of the day, namely FOMC Lockhart’s speech. However a refusal by the FOMC member to confirm September had the local currency rally back. Domestic Business Confidence is our focus for the next 24 hours and we expect a pull back from last month’s strong number. On the charts the lows continue to hold, however we still need a break through last week’s highs to negate the downside potential. AUDEUR: With no data of note released we kept within the 3 day old range. However with business Confidence due from here and Germany, that is set to change. AUDGBP: The Pound strengthened here as comments overnight suggest the 8/1 MPC vote may well increase short term. Unemployment data isn’t due until tomorrow so we’ll expect the range to hold until then. AUDNZD: Held the range yesterday as there was no data released to give direction. Expect a shortterm reactionary spike to this morning’s Business Confidence, but not any real concerted move - at least not lower anyway. (VIEW LINK)


Jim Devonport
Jim Devonport
Compass Global Markets

Involved in the financial markets performing both sales and dealing roles since the mid 1980’s, Jim has a wealth of knowledge, experience and sales acumen that he uses to build and maintain long lasting business relationships. Constantly...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.